#RealtyNewsRoundup: India's Tallest Residential Tower In Mumbai Told To Seal Floors
Realty News Roundup is PropGuide's selection of daily top stories from the real estate sector.
India's tallest residential tower at Worli in Mumbai will have to seal or rupture four fire-refuge floors and large refuge areas outside each apartment to prevent misuse. The municipal corporation in a report to the Bombay High Court alleged that the 294-metre-tall Palais Royale's 74 per cent built-up area has been shown as the fire-refuge area.
The Haryana Urban Development Authority's third and the final draw of lots to rehabilitate the oustees of Dwarka Expressway was completed amid protests by the residents of New Palam Vihar in Gurgaon. The urban development body rejected the claims for alternative plots for 200 oustees, who have threatened to move court. Meanwhile, Huda officials have promised to compensate them.
In a bid to amend the five-decade-old Enemy Property law, the Centre for the fourth time promulgated an ordinance to guard against claims of succession or transfer of properties left by people, who migrated to Pakistan and China. The Bill was passed by the Lok Sabha in March. However, it could not get the Rajya Sabha approval from where it was referred to a Select Committee.
Dewan Housing Finance's Rs 10,000-crore non-convertible debentures offering, the largest ever in the Indian markets, was lapped up completely on the first day. This is the second public offer for bonds by the housing finance company in less than a month. The funds mobilised through this offering will be used for business expansion and repaying debt.
Source: Media reports